Facts & Figures 2026 – The State of Canada’s Mining Industry
Press Release
The mining sector has been a continued success story for Canada. Our sector provides direct employment to 438,000 people in extraction, services, primary manufacturing and downstream manufacturing. The industry pays billions in taxes and royalties to governments, and makes major expenditures for project development and operation. We are a leader in Indigenous employment, providing 22,600 jobs in 2024.
In many ways, we find ourselves in a positive situation. Canada is a leading global producer of potash and uranium. Prices for minerals and metals reached new highs in 2025. We are now the fourth largest gold producer in the world, with Canadian production increasing at the same time that gold’s value has soared. Demand for minerals and metals is projected to increase over the next decade from clean energy and defence applications. There is increasing interest in government support for and in mining projects, which has not been seen in decades outside of Quebec.
But the mining sector in Canada has not seen substantial growth in almost two decades. The inflation-adjusted sectoral GDP was the same in 2024 as it was in 2007. Over the same period, the larger Canadian economy grew by a third, which means that the fraction of the economy made up by mining has been shrinking. Production of key minerals and metals has declined over the past decade: copper production is down by 23%, nickel production is down by 44%, and iron ore production is down 6% since 2015.
Fortunately, there are opportunities for us to grow. Canada and its allies need to mine and refine more minerals and metals to address our geopolitical vulnerabilities and support the world’s energy transition. Advancing mining projects is key to diversifying our economy, building resilience against global shocks, and boosting long-term productivity. Unlocking new projects will expand our industrial base, create high-quality jobs, and reinforce Canada’s role as a global supplier of minerals and metals.
I am encouraged by the Government of Canada’s recent commitment to the sector. New tax credits and incentives should encourage investment. Investments in infrastructure like roads and power corridors will support the development of new mines across the country. In order to fully realize our potential, though, the mining industry needs the full commitment of all federal, provincial and territorial governments. This means modernizing the mining regulatory regime to eliminate duplication and to ensure that processes are efficient and effective while maintaining high environmental standards and respecting Indigenous rights.
IBF4
